Israel Active

Israel’s Elbit has been awarded a 59 million Euros contract for Unmanned Aircraft System patrol services provided by European Maritime Safety Agency to EU countries. Elbit’s Hermes 900 drones and systems will monitor Europe’s coastlines for suspicious activities and potential hazards.

Israeli startup OKO has developed a system for subsistence farmers to obtain crop insurance to protect them from drought, storms etc. 3rd-party insurers (mobile operators, micro-finance institutions, NGOs etc.) use OKO’s broker platform to price policies and verify claims.

Aerospace giant Boeing currently spends over $322 million annually in Israel on purchases and investments.  This could increase to at least $3.5 billion after signing a reciprocal spending agreement with Israel’s Ministry of Economy.

The Israeli Blockchain Association (IBA)’s 3rd Israeli Blockchain Startup Map, shows over 200 startups operating in the blockchain industry.  A large increase was seen in the Security sector, with 23 startups. The IBA predicts the overall number to double in 2019.

​The Bank of Israel's Composite State of the Economy Index for Sept 2018 increased by 0.3 percent. September job vacancies increased as did imports of manufacturing inputs. There was also a sharp rise in industrial production and in services revenue in August.

Israel’s Haim Shani, who chairs the UK Israel Tech Hub, is to be appointed an Honorary Officer of the Order of the British Empire (OBE). British Ambassador to Israel, David Quarrey said, “Haim has helped transform the tech partnership between the two countries.”

New Jersey Governor Philip Dunton Murphy visited Israel on his first commercial mission to strengthen economic and technological ties between his state and the State of Israel. A new agreement was signed that aims to triple the current $1 billion annual trade between the two states.

High demand for Israeli tech talent continues to push up local wages. The average pay for software professionals in Israel in the third quarter of 2018 increased by 6% year-to-year. Algorithm developers are the highest paid, but data scientists had the biggest pay rise (15%).

Google is still the best company to work for in Israel, with Facebook second as per last year. But Microsoft jumped ten places to 3rd, displacing Intel which dropped to 7th. The Dun & Bradstreet list analyzes wages, benefits, career development, support provided, employment stability, and wellness.

Israel’s Team8 (formed from ex-IDF security unit 8200) has setup a second $85 million venture fund for technologies and startups focused on big data and artificial intelligence. It has attracted 14 multinationals including Walmart, Softbank, Airbus, Microsoft, Moody’s, Cisco and Barclays.